This story has been updated to include comments from new Cytogen CEO Michael Becker.
NEW YORK, Dec. 18 - Cytogen said yesterday it has tapped AxCell chief Michael Becker to replace Joseph Reiser, who stepped down as president and CEO "for personal reasons."
Additionally, Lawrence Hoffman has quit as vice president and CFO, and Thu Dang, Cytogen's director of finance and 14-year veteran of the company, has been promoted to VP of finance.
AxCell, which has been whittled downto a core group of only six employees, will not retain a separate management infrastructure, Becker told GenomeWeb.
Cytogen's plans for this functional proteomics subsidiary have not changed, he added. The company is still open to strategic opportunities for this division-including acquisitions or mergers-but for the mean time, AxCell will continue its collaborative work.
"Life is status quo for AxCell--and very interesting for Cytogen," Becker said, adding that the personnel changes were straightforward and there was "nothing behind the scenes people should be concerned about."
"As we look ahead to the next phase in Cytogen's evolution, I believe it is appropriate that Michael take on an expanded role as CEO," said Reiser, who will stay on as a board member.
Beside running AxCell, Becker was VP of business development and investor relations at Cytogen, where he has now been named to the board.